Event Brief
Sep 1, 2026 at 12:00 PM ET
CA budget complexity leaves analysts perplexed
By The BriefBrief
California’s 2026-27 budget, enacted in June, is described as extremely difficult to explain even by the Legislature’s budget analyst. The plan relies on $14 billion in loans and reserves to cover deficits, while lawmakers use accounting mechanisms to claim the budget is balanced despite spending beyond revenues.
WHO: Gavin Newsom; California Legislature; Legislative Analyst Gabe Petek and his staff of fiscal experts
WHAT: The enacted 2026-27 California budget is criticized as overly complex and opaque, using loans and reserves to cover deficits and accounting mechanisms to present a balanced budget.
WHEN: Reported Sep 1, 2026 at 12:00 PM ET
WHERE: California
WHY: The budget is built using $14 billion in loans and reserves to paper over deficits, relying on accounting mechanisms that make it hard to describe and reconcile with revenue coverage.
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